Bharti Airtel may revive a plan to sell a controlling stake in tower arm Bharti Infratel in an effort to pare over $14 billion of debt and release funds for network expansion, reportsEconomic Times citing people familiar with the matter said. The possible change of plan comes at a time when there has been a 26% surge in Infratel’s stock price over the past three months.

Mint earlier reported on 29 March that Bharti Airtel Ltd sold a 10.3% stake in its tower unit to a consortium of investors including KKR & CPPIB to raise Rs6,193.9 crore, funds that India’s largest telecom operator plans to use to pare debt and counter intensifying competition. Read more

KKR and Co. Lp and Canadian state-owned pension fund manager CPPIB’s Rs6,193.9 crore investment in Bharti Infratel Ltd is likely part of a broader arrangement under which the investors are also expected to buy Idea Cellular’s stake in Indus Towers Ltd, a separate Mint report said, citing two people aware of the discussions. Read more

RatanTata-backed Moglix raises $12 million from IFC and Rocketship

Moglix, a business-to-business (B2B) industrial goods marketplace, has raised $12 million led by International Finance Corp. (IFC) in a series B funding round that saw existing investor Jungle Ventures increase its investments. California-based Rocketship vc also came on board as a new investor, while Accel Partners; Shailesh Rao, a former vice-president at Twitter and Google, and Venture Highway did follow-on investments. Read more

Premji Invest-backed FSS begins IPO process, to raise Rs1, 000 crore

Azim Premji’s investment arm Premji Invest-backed Financial Software and Systems Pvt. Ltd has started working on an initial public offering (IPO) in order to raise Rs1,000 crore, reports Mint, citing two people aware of the development. According to the report, the IPO will be a mix of both primary and secondary share sales. Read more

Dr Agarwal’s Health Care Ltd, an eye care chain is raising Rs160 crore in structured credit from Edelweiss Special Opportunities Fund (ESOF), reports Mint, citing two people aware of the development. The company runs its chain through Dr Agarwal’s Eye Hospital Ltd, a listed entity, where it holds around 71.75% stake. Read more

Jumbotail raises funds from Kalaari Capital, Nexus Venture Partners

Jumbotail, an online wholesale marketplace for food and grocery, has raised $8.5 million (around Rs55.12 crore) in a series A round from Kalaari Capital and Nexus Venture Partners, reports Economic Times.The company was founded by Stanford alumni Karthik Venkateswaran and Ashish Jhina in 2015 which works with kirana stores, restaurants and hotels running in Bengaluru. Nexus Venture Partners had already invested $2 million (around Rs13 crore) in the company earlier. Read more

Piramal Finance makes investment in ACME Solar Holdings

Piramal Finance Ltd, a subsidiary of Piramal Enterprises Ltd, has invested around Rs700 crore to renewable energy firm ACME Solar Holdings Ltd through its non-real estate lending arm Corporate Finance Group (CFG). The sanctions were made through a new flexi line of credit, introduced for renewable energy sector, reports Mint. Read more

China’s dealmakers debt raises alarm amid probe

The size of Chinese companies’ debt has begun to worry banks and investors now that Beijing has pressed companies to dial back their ambitions abroad. The dealmakers, HNA Group Co. and Fosun International Ltd, must pay off a sum of money equivalent of at least $11.5 billion in bonds and loans by the end of 2018. This has become complicated after the government made efforts to rein in their aggressive rush overseas. Read more and here

HDFC Property Fund is in advanced talks with prospective buyers to sell its stake in The Windflower Resorts and Spa for about Rs100 crore, reports the Economic Times, citing people aware of the development. Read more